Shore Up Inc

Analysis

Shore Up Inc is a registered charity in United States, based in Salisbury, MD. It received its IRS tax-exemption ruling in January 1971, 55 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Shore Up Inc reported income of $28.4m and spending of $28.6m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $20.0m to $28.4m (+43%), an average of +9.3% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Shore Up Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Latham Centers Inc ($28.4m), Marwood Manor Nursing Home ($28.5m) and Chesapeake Bay Trust ($28.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $161k (0.6% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $13.8m against liabilities of $3.9m, net assets of $9.9m. It reported 331 employees.